The fiscal problem in Missouri

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Monograph

Identifikator:: 1833271335

URN:: urn:nbn:de:zbw-retromon-230042

Document type:: Monograph

Title:: The fiscal problem in Missouri

Place of publication:: New York

Publisher:: National Industrial Conference Board, Inc.

Year of publication:: 1930

Scope:: xvi, 359 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Tax administration ( Continued)

Collection:: Economics Books

CHAPTER VI TAX ADMINISTRATION (CONTINUED) "N THE preceding chapter, the valuation of property for ' taxation, the equalization process, and the question of &- property escaping taxation were discussed. The present chapter deals with inequalities resulting from assessment procedure, administration of the income and other taxes, tax delinquency, and possible changes in the administrative system. INEQUALITIES RESULTING FROM ASSESSMENT PROCEDURE Attention will be directed principally to—(1) assessment of bank stock, (2) assessment of motor vehicles, and (3) variations in real estate assessments. Assessment of Bank Stock Although it is admitted that most forms of property in Missouri are assessed at much less than full value, for many years bank stock has been assessed at practically 100%. Concerted efforts have been made by the Missouri Bankers’ Association to obtain redress from what appeared to them to be unjust discrimination, and some slight relief has been obtained. The whole question, however, is still in an un- settled state. Before considering the status of bank stock assessments at the present time, the method of taxing banks prescribed by the statutes will be described briefly. The bank is required to furnish a list of the shareholders to the assessor and a statement showing the capital, surplus, and undivided profits of the bank subject to taxation. The value? of the real estate owned is deducted from the total as shown in the assessment statement, and the remainder LR. 8. 1919, Section 12775. 2 The State Tax Commission has informed the Committee on Taxation of the Missouri Bankers’ Association that in their opinion the proper basis is the actual value of the real estate and not the value as carried on the books of the bank. 4

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